Zepto files for IPO revealing 151% ad revenue growth but widening losses
Original: Zepto’s IPO filing reveals fast growth, bigger losses, and a valuation question nobody’s answered yet
Why This Matters
Tests investor appetite for loss-making quick-commerce startups in India's competitive delivery market
Indian quick-commerce startup Zepto filed for IPO valued at $1 billion, showing 151% advertising revenue growth to $171 million and 104% operating revenue increase to $2.4 billion in fiscal 2026, though losses widened to $617 million.
Founded in 2021 by Stanford dropouts Aadit Palicha and Kaivalya Vohra, Zepto processed 640 million orders in fiscal 2026, nearly double the previous year, with 48 million annual transacting users across 1,139 stores. The Y Combinator-backed startup competes with Zomato's Blinkit and Swiggy's Instamart in India's quick-commerce market. Despite strong growth, net losses increased to ₹59.1 billion ($617 million) from ₹47 billion the previous year. The company plans to raise up to $837 million through fresh shares, with existing investors including Nexus Venture Partners and Contrary selling up to 113.5 million shares. Zepto was valued at $7 billion in its last funding round in October.